https://www.taxtmi.com/caselaws?id=304780 Amounts collected or earned in direct connection with the airport project were treated according to their true legal character: project-linked receipts from mutual fund units and short-term deposits reduced capital work in progress, Passenger Service Fee security component was not taxable because it was held in escrow in a fiduciary capacity, and development fee collected for aeronautical asset development was a capital receipt. Depreciation was allowed on the airport operating rights as an intangible asset and on operational assets such as taxiways, aprons, parking bays and bridges. Revenue expenditure treatment was upheld for realignment and retrenchment-related payments, while the section 14A and ESIC disallowances failed and the leave encashment issue was remanded. en-us Fri, 10 Jan 2020 00:00:00 +0530 Fri, 21 Oct 2022 18:18:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304780 Amounts collected or earned in direct connection with the airport project were treated according to their true legal character: project-linked receipts from mutual fund units and short-term deposits reduced capital work in progress, Passenger Service Fee security component was not taxable because it was held in escrow in a fiduciary capacity, and development fee collected for aeronautical asset development was a capital receipt. Depreciation was allowed on the airport operating rights as an intangible asset and on operational assets such as taxiways, aprons, parking bays and bridges. Revenue expenditure treatment was upheld for realignment and retrenchment-related payments, while the section 14A and ESIC disallowances failed and the leave encashment issue was remanded. Case-Laws Income Tax Fri, 10 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304780